Risk in Review 2014 Re-evaluating how your company addresses risk

Risk management as an enabler to growth

In our 2015 Risk in review survey, over 1,200 global business leaders shared how they assess and manage risk in their markets. Results show that correctly managing business risks drives performance and revenue growth.

Perspectives from risk officers and business leaders shared in our Risk in review survey

“We are not afraid to work out and work through problems. We understand that both companies and economies run through cycles and you better be prepared to live through a down cycle and weather the storm. Part of our job is to make sure that people understand the choices in the harsh light of day, that there are really no free risks. If you create the right risk framework, promote transparency, have strong domain expertise, the right culture, and strong governance, the decisions will take care of themselves.”

—Ryan Zanin, Chief Risk Officer, GE Capital

“One of the biggest risks is missing opportunities if you are not agile and fast. We do not slow down our business units. The last thing that business leaders want is bureaucracy. Risk management is viewed as an enabler and a support function to the business."

—Luis Custodio, Chief Risk Officer, IBM

“As risk folks, we are paranoids by profession, and so we are going to view the glass as half empty,” Management and boards are paid to be more optimistic. They want to believe that execution will be flawless. The chief risk officer’s job is to blend the paranoia and optimism together.”

—John Nichols, Chief Risk Officer, Fannie Mae

"One of the greatest strategic risks to manage is major acquisitions— whether it’s picking the right target, the right valuation, the right timing, or executing the proper integration.”

—Ray Young, Chief Financial Officer of Archer Daniels Midland

“You may have a group of people who really own the deployment of risk management, but unless you have risk management processes that are integrated throughout the whole business, you haven’t really conquered the risk challenge.”

—Carlos Cardoso, former CEO of Kennametal, principal at CMPC Advisors LLC, and a current board member at Stanley Black & Decker and Hubbell Inc.

Executive Summary

Changes in technology, policy and innovation provide big opportunities, but can also increase risk. View our executive summary to get an overview of the valuable insights that can lead to better business performance.

Our Perspective on Risk Management

Meet the leaders of the risk assurance team and gain their perspectives on harnessing risk. With the proper platforms, systems and analytics in place, they can assist you in converting risk into performance opportunities.

“Integrating risk management into the life cycle of your business gives you the opportunity to do two things. It helps you understand the implication of risk at the point of decision rather than afterward and it allows you to move very quickly and confidently, knowing that you’ve anticipated the risk and are less likely to have made a mistake that could slow you down.”